Tim Andrews, president and CEO of ASI, joined Paul Bellantone, president and CEO of PPAI, for a virtual town hall regarding the impact the coronavirus is having on the promotional products industry.

Co-hosted by Michele Bell, ASI vice president of editorial, and Tina Berres Filipski, PPAI director of publications/editor, the webinar included questions from industry members regarding the $2 trillion stimulus package (known as The CARES Act), canceled and postponed industry events, advice for surviving the crisis and expectations for the coming months.

Bellantone outlined an immediate action plan for business leaders to follow, emphasizing the main goal is to ensure your company’s survival. “Trim your expenses, cut waste, freeze hiring and consider furloughing employees or reducing their hours,” he said. “Hold on to your cash as long as you can. Pay your bills while negotiating terms and conditions. Be transparent and communicate with employees and people you owe money to.”

Andrews stressed the importance of leadership and positivity during this crucial time. “We need to control what we can: our attitude and actions,” he said. “We have to keep our wits about us and stay focused. Don’t get bogged down with social media and news headlines every day. Figure out what you have to do for your business today and act quickly.”

Both organization leaders encouraged business owners to take advantage of loans and grants provided by the government. “There are forgivable loans and paycheck protection programs that will help keep your workforce together,” Bellantone said. Andrews added that The CARES Act has also expanded unemployment coverage to independent contractors, which comprise a significant portion of the promo industry. “Unemployment insurance has beefed up, so employees have much better benefits than are typically available,” Andrews said.

Bellantone repeatedly urged industry members to take this time to reinvent themselves and their businesses. “Much like after 9/11 and the 2008 recession, nothing will be the same after this,” he said. “After the longest run of economic prosperity we’ve ever experienced, perhaps we’ve become complacent on some basic business processes. Reimagine your business and put processes in place to help you get there.”

Of course, the foundation of the industry will always remain: putting your customers’ needs first. “They’re going through all the things we’re going through – don’t ignore them,” Andrews said. “Continue to use the best way you’ve established to communicate with them. Be respectful of what they’re dealing with and use empathy. They don’t want the hard sell right now.”

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